NUTEX HEALTH PROVIDES UPDATE ON ITS MEDICAL GROUP IN SOUTH FLORIDA

Rhea-AI Summary

Nutex Health Inc. (NASDAQ: NUTX) announced a significant increase in its South Florida Physicians IPA, expanding from 27 to 78 primary care physicians in just two months. The growth is part of its strategy to enhance value-based care by leveraging its Clinigence Health cloud-based platform and management services. Nutex aims to build 7 new micro-hospitals in Florida over the next 2-3 years, aligning with its goal to deliver high-quality, coordinated care and improve the efficiency of operations. This expansion is part of a broader effort to strengthen its healthcare network and optimize patient care.

Positive

• Increased primary care physician contracts from 27 to 78 in two months.
• Plans to build 7 new micro-hospitals in Florida in the next 2-3 years.
• Enhanced healthcare service delivery through the Clinigence Health platform.

Negative

• Risks associated with rapid growth and execution of growth strategy.
• Potential dilution to stockholders due to financing needs.

NUMBER OF PRIMARY CARE PHYSICIANS CONTRACTED HAS INCREASED FROM 27 TO 78 IN TWO MONTHS

HOUSTON, April 19, 2023 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 20 state-of-the-art micro hospitals in 8 states and primary care-centric, risk-bearing physician networks, today provided an update on South Florida Physicians IPA, its independent practice association ("IPA") in South Florida.

As of today, South Florida Physicians IPA has signed contracts with 78 primary care physicians ("PCPs"), up from 27 PCPs in February 2023.  The physicians have been credentialed and our IPA is working with several health plans to enroll patients.

An IPA is an association of independent physician practices who wish to focus on providing high quality care and to remain independent but need additional resources and expertise to lead the market in value-based care.  South Florida Physicians IPA offers its providers access to our Clinigence Health cloud-based population health data analytics platform, opportunities to participate in risk-based contracts with payors and the resources of ProCare MSO, Nutex Health's wholly-owned management services organization ("MSO"). 

Nutex Health's integrated healthcare delivery system is comprised of its hospitals, IPAs, our MSO and our cloud-based population health analytics platform.  Our inpatient-outpatient model is well aligned operationally and strategically to deliver high-quality and coordinated care to patients in our local communities, while improving the efficiency and overall cost of care.  We believe that by taking care of as many of our IPA's enrolled patients at our hospitals, we will not only increase the volumes in our emergency rooms and occupy more of our inpatient beds, but we will also reduce the medical cost ratio ("MCR") in our IPAs, thus making our IPAs more profitable.  Nutex Health is building or in advanced planning stages of building 7 microhospitals in the state of Florida over the next 2-3 years.

"Florida is an important state for us.  We are working in parallel to build our hospitals and to set up our provider network there," stated Tom Vo, M.D., MBA, Chairman and Chief Executive Officer of Nutex Health.

"We welcome the physicians who have joined our IPA in Florida to the Nutex family.  We are proud to have organically grown our network so rapidly and are also evaluating potential IPA and MSO acquisitions in Florida and other states," stated Warren Hosseinion, M.D., President of Nutex Health.

About Nutex Health Inc.

Headquartered in Houston, Texas and founded in 2011, Nutex Health Inc. (NASDAQ: NUTX) is a healthcare management and operations company with two divisions: a Hospital Division and a Population Health Management Division.

The Hospital Division owns, develops and operates innovative health care models, including micro-hospitals, specialty hospitals, and hospital outpatient departments (HOPDs). This division owns and operates 19 facilities in 8 states.

The Population Health Management division owns and operates provider networks such as Independent Physician Associations (IPAs). Through our Management Services Organization (MSO), we provide management, administrative and other support services to our affiliated hospitals and physician groups. Our cloud-based proprietary technology platform aggregates clinical and claims data across multiple settings, information systems and sources to create a holistic view of patients and providers, allowing us to deliver greater quality care more efficiently. 

Forward-Looking Statements

Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will", "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," "goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company.  Such uncertainties and risks include, but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, including the interim final and final rules implemented under the No Surprises Act , economic conditions, dependence on management, dilution to stockholders, lack of capital, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Company's ability to compete, conflicts of interest in related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition and the ability of the Company to obtain future financing. An extensive list of factors that can affect future results are discussed in the Current Report on Form 10-K for the period ended December 31, 2022 under the heading "Risk Factors" in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.

 

View original content:https://www.prnewswire.com/news-releases/nutex-health-provides-update-on-its-medical-group-in-south-florida-301801280.html

SOURCE Nutex Health, Inc.

FAQ

What is the recent update from Nutex Health regarding its physician network in Florida?

Nutex Health has increased its primary care physician contracts from 27 to 78 in just two months.

How many micro-hospitals is Nutex Health planning to build in Florida?

Nutex Health plans to build 7 new micro-hospitals in Florida over the next 2-3 years.

What is the significance of the Clinigence Health platform for Nutex Health?

The Clinigence Health platform provides cloud-based population health data analytics, enhancing care delivery and efficiency.

What are the potential risks mentioned in Nutex Health's press release?

The press release highlights risks such as rapid growth challenges and potential stockholder dilution.

What is the stock symbol for Nutex Health?

The stock symbol for Nutex Health is NUTX.